Padre Apartments Community

“Mercy housing, inc., a nebraska nonprofit corporation, is the sole member and is exempt from federal income tax as an organization described in sec 501(c)(3) of the internal revenue code of 1986.”

“The board of trustees of mercy housing, inc., as sole member of padre apartments community, has authority over padre apartments community in various aspects of operations and management. The reserved rights held by the mercy housing board of trustees, which may be further delegated to the president and ceo of mercy housing, inc., include approval of the following activities: revisions to articles and bylaws; mergers and acquisitions; establishment of new entities; pledging, mortgaging or disposing of all or substantially all assets; obligations of new operating and mortgage debt; and, appointment or removal of governing board members and officers.”

“SAME AS LINE 7A.”

“Each member is given the opportunity to review the return before it is filed.”

“The audit committee of mercy housing, inc. Reviews annually the conflict of interest disclosures and determines whether any action is required.”

“The process for determining compensation for the president, chairman, officers, and directors is determined by an executive committee, which is appointed by the board of directors of mercy housing, inc. To ensure competitiveness, wages are compared to other affordable housing organizations, both for- and not-for-profit, or the local market for positions applicable to a broader competitive market. Mercy housing, inc. Will comply with all applicable federal and state labor laws and regulations. The process will be administered according to the relevant human resource operational policies and by the human resource department with direction from the senior leadership team. The ceo will make a report to the board of trustees on implementation of the wage and benefit program annually. Periodically the executive committee within the mercy housing, inc. Board of trustees will review executive salaries to ensure competitiveness with external markets and for internal equity in relation to general employee wages and benefits, individual and organizational performance, and the financial resources of the organization.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Sister amy bayley, rsm, serves as an officer/director of padre apartments community and performs services for mercy housing inc. Mercy housing, inc. And the sisters of mercy of the americas west midwest have entered into a contract whereby amy bayley has been assigned to mercy housing, inc. To perform services and provide leadership for mercy housing, inc. And its subsidiaries. Sister bayley is a member of a religious community and has taken a vow of poverty and therefore does not receive any personal income. Sister bayley is not an employee of mercy housing, inc. Or padre apartments community. Mercy housing, inc. Makes payments directly to the sisters of mercy of the americas west midwest for monthly stipend payments and benefits relating to the services performed by sister bayley. The sisters of mercy of the americas west midwest are responsible for providing the living expenses of sister bayley. For 2017 mercy housing, inc. Paid $105,863 for the annual stipend fee and benefits equivalent.”

“Responsibility for selection of an independent accountant and oversight of the annual audit is reserved by the mercy housing, inc. Board of trustees.”